Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) had its target price raised by Robert W. Baird from $78.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the information technology service provider’s stock. Robert W. Baird’s price objective points to a potential upside of 7.60% from the company’s previous close.
CTSH has been the subject of a number of other research reports. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their target price for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.68.
View Our Latest Analysis on CTSH
Cognizant Technology Solutions Price Performance
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the company earned $1.16 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.
Insider Activity
In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the sale, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.
Institutional Trading of Cognizant Technology Solutions
Several hedge funds and other institutional investors have recently modified their holdings of CTSH. 1620 Investment Advisors Inc. bought a new position in shares of Cognizant Technology Solutions during the second quarter worth about $25,000. LRI Investments LLC acquired a new position in Cognizant Technology Solutions during the 1st quarter worth approximately $28,000. Pinnacle Bancorp Inc. grew its stake in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares in the last quarter. Eastern Bank bought a new stake in shares of Cognizant Technology Solutions in the third quarter worth $37,000. Finally, Benjamin Edwards Inc. boosted its holdings in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.
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